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Applied Genetic Technologies Corporation (AGTC) has completed its merger with Syncona Limited, following a tender offer that expired on November 30, 2022. AGTC stockholders will receive $0.34 per share in cash, with potential additional earnings of up to $0.73 per share through contingent value rights (CVRs) tied to specified milestones. Consequently, AGTC is now a wholly owned subsidiary of Syncona, and its shares will no longer be traded on Nasdaq.
Applied Genetic Technologies Corporation (AGTC) announced an extension of the tender offer by a portfolio company of Syncona Limited for all outstanding shares of AGTC common stock at $0.34 per share in cash, plus potential additional payments of up to $0.73 per share via contingent value rights. The tender offer expiration has been extended to November 30, 2022, allowing shareholders more time to participate. As of November 28, 2022, approximately 45.1% of shares were tendered. AGTC's board recommends that shareholders tender their shares.
Applied Genetic Technologies Corporation (AGTC) announced a tender offer initiated by Syncona Limited to acquire all outstanding shares at $0.34 each, with potential additional payments of up to $0.73 per share based on certain milestones. AGTC’s Board of Directors has unanimously endorsed this offer, emphasizing its benefits for shareholders. They warn that failure to tender shares could lead AGTC towards bankruptcy without guaranteed value for current stockholders. The tender offer expires today, November 28, 2022, at 5:00 p.m. ET.
Applied Genetic Technologies Corporation (AGTC) announces a tender offer from Syncona Limited to purchase all outstanding shares at $0.34 per share, plus potential additional payments up to $0.73 per share based on specified milestones.
AGTC’s Board unanimously recommends stockholders accept this offer, highlighting its attractiveness. However, they warn that failure to tender enough shares may force AGTC to seek bankruptcy, risking stockholder value.
Applied Genetic Technologies Corporation (AGTC) announced that a portfolio company of Syncona Limited has initiated a tender offer to buy all outstanding AGTC shares at $0.34 each, plus potential milestone payments up to $0.73 per share. AGTC’s Board of Directors endorses this offer, stating it serves the best interests of shareholders. The deadline to tender shares is November 28, 2022, at 5:00 p.m. Eastern Time. Should the majority of shares not be tendered, AGTC may pursue bankruptcy, raising concerns about shareholder value.
Applied Genetic Technologies Corporation (AGTC) has announced a tender offer for its common stock at $0.34 per share, representing a 42% premium over its previous closing price. The transaction includes potential contingent value rights (CVRs) that could increase the total consideration to $1.07 per share, a 344% premium from the October 21 closing price. AGTC's board unanimously approved the merger agreement with Syncona Limited, urging stockholders to participate in the tender offer, which is set to expire on November 28, 2022.
Applied Genetic Technologies Corporation (AGTC) has entered into a definitive agreement for Syncona Limited to acquire it for approximately $23.5 million, translating to $0.34 per share, a 42% premium over AGTC's recent closing price. Shareholders may also receive up to $0.73 per share through contingent value rights, leading to a potential total of $1.07 per share, a 344% premium. The board believes this offer represents the best value, considering the challenges in funding ongoing operations beyond 2022. The transaction is expected to close in Q4 2022.
Applied Genetic Technologies Corporation (AGTC), a clinical-stage biotechnology firm, announced participation in key investor conferences. Management, including CEO Sue Washer and CFO Jon Lieber, will engage in one-on-one meetings at the Wells Fargo Healthcare Conference (Sept 7-9, 2022) and present at the H.C. Wainwright 24th Annual Global Investment Conference (Sept 12, 3:30 PM ET). Washer will also join a panel at the Cantor Cell and Genetic Medicines Conference (Sept 15, 1:10 PM ET). AGTC develops gene therapies focused on rare diseases, notably in inherited retinal conditions.
Applied Genetic Technologies Corporation (AGTC), a clinical-stage biotechnology company, announced its participation in several upcoming investor conferences. Key Events include:
- BTIG Biotechnology Conference - August 8, 2022, featuring CFO Jon Lieber.
- Wedbush PacGrow Healthcare Conference - August 9, 2022, with CEO Sue Washer and CFO Jon Lieber.
- H.C. Wainwright 2nd Annual Ophthalmology Conference - August 17, 2022, with an on-demand presentation by Sue Washer.
AGTC focuses on developing gene therapies for inherited retinal diseases and has strategic collaborations in optogenetics and CNS disorders.
